FED:Australian farm production to hit $45.2bn

AAP General News (Australia)
02-22-2011
FED:Australian farm production to hit $45.2bn

CANBERRA, Feb 22 AAP - High global prices are expected to cushion the blow to agricultural
production from Australia's wet and wild summer.

The latest NAB Rural Commodities Wrap said despite huge flooding and a devastatingly
wet summer, the forecast for 2010-2011 is $45.2 billion - up $5 billion on the previous
year.

Net farm incomes are expected to total $9.2 billion.

Rather than flooding or Cyclone Yasi, heavy rain on the wheat crop has been to blame
for many of the recent downgrades in farm production values, the forecast says.

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